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Business Objectives.

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Introduction

AVCE BUSINESS ASSIGNMENT E2, C1 BUSINESS OBJECTIVES Corporate objectives are the goals that the whole organisation is trying to accomplish. The aims, which are set out on a mission statement, form the foundation upon which these targets are developed. These strategies are the organisation's plan of action which, when implemented will lead to the feat of the corporate objectives. Sainsbury's plc also have a mission statement and these help the company attain their targets so they can be the best in providing customer services. "The group's objective is to meet its customer's needs effectively and thereby provide shareholders with good, sustainable financial returns. It aims to ensure all colleagues have opportunities to develop their abilities and are well rewarded for their contribution to the success of the business. Its policy is to work with all of its suppliers fairly, recognising the mutual benefit of satisfying customer's needs. ...read more.

Middle

> Sainsbury's plc are using "best in class" IT solutions to help gain the competitive advantage. > The company have also started on a major programme to modernise their supply chains by developing a new network of new depots around the country. Good progress has been made with three new depots are situated at Emerald Park, Langlands Park and Haydock. > The company expect to double the running costs of �6million in the 2002/03 financial year as they switch between old and new warehouses. > Sainsbury's are totally committed to upgrading their estate through the reinvigoration of their stores. Throughout the year, they reinvigorated 117 stores. They have also added new stores to their programme, having opened 10 supermarkets and 15 Locals during the year, therefore adding a further 422,000 sq ft of new space. > Through their customer data warehouse, they analyse the data from their reward card scheme to help them understand of their customer needs and shopping missions better. ...read more.

Conclusion

The company are committed to achieving industry-leading margins, but it is to early to be accurate about when. The market is dynamic and the competition is very active. The plc have choices about the rate of sales growth against margin targets. But the company are also dedicated to delivering strong double-digit underlying profit growth each year of their business alteration programme. These tables show how much the company has come along in the last four years. The company's underlying profit has been maximised nearly every year and this shows that the company are dedicated to meeting customer satisfaction. 2003 2002 % Sales - continuing operations 1 L18,495m �18,198m 1.6 Underlying profit before tax 2 L695m L627m 10.8 Profit before tax L667m L571m 16.8 Underlying earnings per share 2 24.2p 21.5p 12.6 Basic earnings per share 23.7p 19.1p 24.1 Dividend per share 15.58p 14.84p 5.0 The table above shows the profits earned from 2002 to 2003. The continuing operations have increased by 1.6%. Most of the earnings have increased and so it shows Sainsbury's are improving ever year. ...read more.

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